My income from my regular job is more than enough and I mistakingly said pre-qual instead of pre-approval.

Yes John I specialize as a commercial broker in multifamily.Residential is 10% but can go up to 12 to 13% if you are buying in a war zone that will be a headache for the PM company to manage.Multifamily if you just have a duplex,tri-plex,or quad the rates typically stay around 10% unless you go for ala carte type services which I don't recommend.50 units or more in one development usually the rate is 5%,under 50 units to 20 is about 6 to 7%,under 20 down to 4 ranges from 7 to 10%.These are not set numbers just what I see.It also depends on not only the number of units but what you are purchasing.If an existing management company stays on they might give you a deal but depends on how they performed in the past from the seller you are purchasing from if you would want to keep them.Also a factor is location and if the facility is turn key and fully performing.If the building needs turning (half-filled) around or is completely vacant there will be extra costs by the PM to get it performing again besides the regular percentages.Anything 5 units or over is commercial lending.Hope it helps.

I have found a broker to work with and the set up would be almost identical to that of an agent selling properties.

But finding a really good deal is very hard, and this is an expensive approach that will result in a higher debt load on the property than a regular purchase.

I've got the Smart Key on one rental, but someone pointed out some time ago on this forum that it would be easy for a tenant to figure out how to rekey the locks using the little Smart Key tool (which I believe is identical in every package), so I'm not sure if I'm going to keep using them.

In the US policy makers' point of view, buying a home is a much better investment than owning regular financial assets.

I would own the house - and whatever I'd want to do with it, as in a regular sale.

In addition to the regular late fee, you'll get hit with some kind of processing/paperwork fee and "legal" fees.

It’s not limited to P/HML’s either.Conventional lenders, with their often vague and nonsensical requirements, can be as bad; regularly screwing mom & pop end buyers with inane requests for endless documentation and often pulling out at the last minute.

Andrew Herrig I attend the TXREIC events on a regular basis.